Fidelity Investments Financial Representative Reviews | Glassdoor

Fidelity Investments Financial Representative Reviews

Updated July 20, 2017
288 reviews

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Pros
Cons
  • Work/life balance tough to maintain (in 145 reviews)

  • Call center style of employment for most jobs (in 173 reviews)

More Pros and Cons

  1. "Great company all around. Associates and Managers are all on the same page and are very open and friendly"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Representative in Merrimack, NH
    Current Employee - Financial Representative in Merrimack, NH
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Fidelity Investments full-time (More than a year)

    Pros

    You feel safe and secure in the company. Lots of networking opportunities. Amazing benefits and training program. Guidance is always there if you need it

    Cons

    The overall pay isn't great. They channel you into an on-phone career path instead of presenting all opportunities. They expect high efficiency with little room for breaks or a flexible schedule

    Advice to Management

    Use coaching time to show associates more career paths


  2. Helpful (8)

    "May be going downhill"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Electronic Response Financial Representative in American Fork, UT
    Current Employee - Electronic Response Financial Representative in American Fork, UT
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Fidelity Investments full-time (More than 5 years)

    Pros

    Fantastic benefits
    Friendly environment
    If you're liked, it's easy to move around to different positions
    Great for a sales environment (not pushy to customers - always what's in their best interest) - I would highly recommend Fidelity to anyone who really likes sales and a high intensity environment
    7% 401(k) match + profit sharing contributions every year
    Great training if you start off not knowing anything about the financial industry
    Recently they've been trying to (at least act like they are) make changes to make the employee experience better
    Industry leader and well known

    Cons

    A 529 plan is a tax-advantaged higher education savings plan made possible under section 529 of the Internal Revenue Code (IRC). A 529 plan allows individuals to save money for a beneficiary by contributing up to $14,000 (or $28,000 if married and filing jointly) annually without incurring gift or generation-skipping transfer tax liability. Earnings in this plan grow federal income tax-deferred and the distributions are federal income tax-free as long as they are used for qualified higher education expenses. There may be additional state tax benefits to participants, contingent on their state’s tax regulations.

    Nepotism
    Who you know can get you a job
    If your manager doesn't like you, it's going to be nearly impossible to move up in the company
    Last year they bumped up the new hire pay by I think $5,000 to get more people interested in applying, but none of the pre-existing employees have gotten any type of compensation adjustments to make up for it
    The annual salary review (and usual salary increase) is being pushed back this year, so that it's a year and a half from our last increase
    Don't get settled into what your role is defined as, because it'll most likely change without your opinion being considered
    Everything is going full-blown sales - they push a "customer first" attitude, but all of the compensation and management feedback is exactly the opposite
    We used to be able to take time to do research and follow up on our clients' needs, but they're punishing us for taking the time to ensure our customers have good experiences because we're not constantly taking phone calls/chats/emails etc.
    The only things that our bonuses are really based on are how many interactions we're taking per hour, how many sales leads we can get, and then our customer feedback survey scores - but they keep lowering the amount of impact the feedback surveys have... it seems like they're caring less and less about the customer's experience, and more and more about how much money they're making (to be honest, it's a dog-eat-dog world out there for investment firms right now though)

    Advice to Management

    Think about your existing employees. Don't concentrate solely on the company's margins. You're going to be back in a place where you're having to increase your starting pay for new hires because so many of your existing employees have quit because you don't act like you care about them, and no one wants to work for the company.
    Once you have taken care of your employees, they'll take care of your customers... if you let them. Fidelity employees (for the vast majority) want to follow up on customer problems and make sure they get them resolved, but since you keep increasing the number of interactions per hour, and limiting any time for following up for customers, employees just stop making time to resolve customer problems because then their "numbers" will look worse than their teammates who never follow up, and who rush people off the phone to increase their interactions per hour, and subsequently, their bonuses.

  3. Helpful (9)

    "Terrible place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Representative in Merrimack, NH
    Former Employee - Financial Representative in Merrimack, NH
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Fidelity Investments full-time (More than a year)

    Pros

    Amazing opportunities for incompetent people.

    Cons

    Only incompetent people get promoted. Managers and upper management are extremely insecure and have no idea what they are doing. Constant lies are feed to the employees on a daily basis. The good performers are stuck in their roles and do not get promoted so that the manager can benefit from their stats. Terrible employees always get promoted so that the manager does not have to deal with them anymore. If you are a woman here you will immediately get promoted and preferential treatment. Lots of stress here and terrible work environment. Management and upper management in this company are the most conniving narcissistic people you will ever meet.

    Advice to Management

    Most managers their should never be a manager or in any type of leadership position.


  4. Helpful (5)

    "Horrible Employer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - High Net Worth Financial Representative in Merrimack, NH
    Former Employee - High Net Worth Financial Representative in Merrimack, NH
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Fidelity Investments full-time (More than a year)

    Pros

    They pay you while you study for your exams. Only positive

    Cons

    The firm constantly states how conservative and honest they are, but that is only in regards to their clients, not employees. Upper management constantly lies about anything and everything. False promises across the board. Stated that simply working a full calendar year qualifies you for their 10% profit sharing payout. After a year of work, told we wouldn't be receiving the payment because we missed the "deadline" that was never mentioned. When speaking to managers/directors about why this was never mentioned to us, simply told that "you should have received it."

    Promotions are just lateral moves. Want you to assist their customers on the phone, but if they talk to much it ruins your metrics and you get yelled at for it. Nothing is done to problem customers. You will spend an hour on the phone calling the Risk group about a blocked account for someone who a negative balance with the company. Of course you can't hang up on them either. Don't let them lie to you about how you're a "financial professional." Very little finance, everything about appeasing their horrible client base.

    "Promotions" are almost constantly handed to the most unqualified applicants. It isn't what you know or how well you perform within your role, its all about how big of a shill you can be for the company.

    When applying for a new position, every female candidate will be promoted regardless. This trend can be seen throughout the whole company. Women make up maybe 10% of Personal Investing but when it comes to manager roles its around 70/30 Female to Male.

    If you're looking to get sponsored for your 7/63, work here for the 2 months it takes to get them and then leave like everyone else. Turnover rate is rampant. Pay is garbage and no one is looking out for you. Wait for the near future for more layoffs. Vanguard is taking all of Fidelity's clients and no one is safe from the chopping block.

    Advice to Management

    Do your jobs instead of spending all your time talking about how great of a company Fidelity is. Anyone that can succeed in the world leaves the company. The dumb employees are the only ones who stay for 20 years and work their way up, and you always award them for their incompetence.


  5. Helpful (1)

    "Fidelity call center"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Representative in Denver, CO
    Current Employee - Financial Representative in Denver, CO
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Fidelity Investments (More than a year)

    Pros

    Great benefits, flexible schedule, and a lot of engagement.

    Cons

    Limited advancement opportunity based on politics with little value placed on performance.


  6. "Financial Representative"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Representative in Palm Desert, CA
    Current Employee - Financial Representative in Palm Desert, CA
    No opinion of CEO

    I have been working at Fidelity Investments full-time (Less than a year)

    Pros

    Great Company, Customer Oriented, Powerful Brand, Great Benefits, Great Culture

    Cons

    Many Procedures, Tough learning Curve


  7. "Financial Representative"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Representative in Jacksonville, FL
    Former Employee - Financial Representative in Jacksonville, FL
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Fidelity Investments full-time (More than a year)

    Pros

    Flexible Hours
    Amazing Mid-level Management
    Great pay / Benefits

    Cons

    Service job = rude customers

    Advice to Management

    Additional reps to buffer call volumes - especially when systems are down.

  8. Helpful (1)

    "Good First Job"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Representative in Jacksonville, FL
    Former Employee - Financial Representative in Jacksonville, FL
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Fidelity Investments full-time (More than a year)

    Pros

    good benefits. flexible schedule. god way to get FINRA licenses

    Cons

    a call center job. nothing ever changes

    Advice to Management

    It is what it is. They do what they can to make things interesting but a call center job is just that.


  9. Helpful (13)

    "Good introduction to retail finance. But this a call center through and through. Do not be deceived"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Representative - HNW in Jacksonville, FL
    Current Employee - Financial Representative - HNW in Jacksonville, FL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Fidelity Investments full-time (More than 3 years)

    Pros

    -extensive training program
    -licensing help
    -good introduction to finance
    -genuinely nice coworkers
    -good computer systems
    -get to be a customer as well

    Cons

    -extreme micromanagement
    -does not care for ability or knowledge, only that you meet your call metrics. There is a person on my team that has to call for help over 10 times a day, but no worries because they take 50 calls.
    -job goes from remedial customer service work to having to explain complex investing and tax strategies.. no consistency in service.
    -management is all about the flavor of the day: for a couple of months it was having great conversations with clients, then it was all about having a good workplace to be in.. now it's about taking as many calls as humanely possible with no rest.
    -management likes to hype up the small things.. like wireless headsets, or taking a break when you want to... but they will pass a long all bad news to the lower level managers and will not face the front line reps at all. They refuse to hear any criticism on policy updates. Some are so far removed from helping any client that it's comical what they expect.
    - lately they have been devaluing the high net worth service reps. They used to allow for casework and follow up on issues, but they've tossed that in favor of handling as many clients as possible. So now the client with 2 mill as equal standing as client with 2k.
    -management treats all reps the same, no matter fresh out the dorm room or seasoned worker. Can be frustrating..
    -this is not a role to stay in for long. Go the sales route. Stay away from customer service.
    -refuse to be competitive in pay
    - bonuses are a joke.. almost insulting
    - if all else fails, other firms in town have better pay.

    Advice to Management

    Stop hiring sycophants and yes men in manager roles. Be leaders and get out in front of the reps you manage. Your pow wow sessions in team meetings are a joke. Stop acting like a kindergarten teacher and talk to reps like adults.


  10. Helpful (5)

    "Good place to start your career"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Representative in Denver, CO
    Former Employee - Financial Representative in Denver, CO
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at Fidelity Investments full-time (More than a year)

    Pros

    There is some great talent and fun people to work with at Fidelity. The company has good benefits and fairly good pay. I got some great experience starting my career here. I grew thick skin dealing with the daily client abuse. Training is good, they will hold your hand and spoon feed you through anything to get you certified.

    Cons

    Welcome to Corporate America. Promotions can be a nightmare with hurry up and wait mentality. sometimes there will be 6 months between job opportunities. In Denver there is a very limited amount of opportunities, managers will tell you to move to the east coast if you don't like the jobs available. Trade support will witch hunt you if you get a trade error, even if its for 1 cent. Trade errors are used to punish employees and lowers your chances of getting promoted. Managers will use fear tactics to push the bottom line which has more to do with customer surveys than anything else if you are in service. I wish I could write some of the profanity the customers will say to you over the phone, truly horrific dealing with the general public. Training in large classes of 20+ young professionals feels a lot like high school and its not ideal for education. Classes tend to get "clicky" and like managers, the facilitators always have their favorites. Unless you are a great "suck up" don't expect to get promoted based on your merits here.

    Advice to Management

    Don't use trade errors to punish the employees, they should be used as learning opportunities, not as ways to hold the employees back from advancing in their careers. There needs to be a lot more employee recognition and meritocracy for the people that work hard and show results consistently opposed to the the guy who got promoted because he was the manager's favorite.